Geode Capital Management LLC Has $9.09 Million Position in FLEX LNG Ltd. (NYSE:FLNG)

Geode Capital Management LLC decreased its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 357,177 shares of the company’s stock after selling 2,448 shares during the period. Geode Capital Management LLC’s holdings in FLEX LNG were worth $9,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FLNG. Beck Capital Management LLC boosted its stake in shares of FLEX LNG by 0.5% in the 3rd quarter. Beck Capital Management LLC now owns 111,891 shares of the company’s stock valued at $2,847,000 after purchasing an additional 583 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in FLEX LNG by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock valued at $296,000 after purchasing an additional 652 shares during the last quarter. Squarepoint Ops LLC boosted its position in FLEX LNG by 7.7% in the second quarter. Squarepoint Ops LLC now owns 11,326 shares of the company’s stock valued at $306,000 after buying an additional 806 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of FLEX LNG by 11.7% during the third quarter. BNP Paribas Financial Markets now owns 10,408 shares of the company’s stock worth $265,000 after buying an additional 1,094 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of FLEX LNG during the second quarter worth $47,000.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “hold” rating and set a $24.00 price objective on shares of FLEX LNG in a report on Tuesday, November 12th.

FLEX LNG Stock Performance

NYSE:FLNG opened at $22.94 on Thursday. The stock’s 50-day moving average is $23.65 and its 200-day moving average is $25.45. FLEX LNG Ltd. has a 1-year low of $20.85 and a 1-year high of $31.41. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97. The stock has a market cap of $1.22 billion, a P/E ratio of 13.49 and a beta of 0.71.

FLEX LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 13.08%. The ex-dividend date of this dividend was Wednesday, November 27th. FLEX LNG’s dividend payout ratio (DPR) is currently 176.47%.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.